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Clatsop Community College Sells Campus Bonds; Good News for Taxpayers

From: Nadine Faith
To: Media
Date: 02/12/09
Subject: CCC Sells Campus Bonds; Good News For Taxpayers PR

Clatsop Community College
FOR IMMEDIATE RELEASE: 02/12/09
Contact: The President’s Office 503-338-2425

Clatsop Community College Sells Campus Bonds; Good News for Taxpayers

As work on the Jerome Campus Redevelopment Project moves steadily ahead, Clatsop Community College received good news about the sale of the $5 Million in bonds approved by the voters in November.

“We successfully sold the bonds last week,” reported Lindi Overton, Vice President for College Services, “and our bond analyst informs us that the tax levy rate that local property owners will pay is even less than we anticipated. We estimated that taxpayers would pay approximately seven cents per $1000 of assessed value on their properties, but the actual rate will be more like six cents per $1000. At first glance, that may not seem significant, but over the 20 year life of the bonds, that difference will save taxpayers over $1 Million.”

“We really appreciated the fact that as the economy turned downward last November, Clatsop County voters were still willing to support our bond request,” say Dr. Greg Hamann, CCC President. “Now we’re happy to report that the cost to them will be even less than they expected.”

Meanwhile, the campus is already visibly changing as work moves ahead on the project. Fertig Hall has been removed and site preparation for the new science and allied health building is well underway.

“The project is on schedule and we anticipate opening for classes in the new building a year from now,” states Al Jaques, Project Manager. “After that, our focus will be on renovating Towler and Patriot Halls.”

To learn more about the Jerome Campus Redevelopment Project, visit www.clatsopcc.edu/campus.

Clatsop Community College is an affirmative action, equal opportunity institution.

construction site
Photo 2/11/09


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